Duplex with Quartz
For Sale
$355,000
2700 02 S Galvez St, New Orleans, LA 70125
Two residences feature stainless appliances, vinyl flooring, quartz countertops, and distinct one-story and two-story layouts.
Property Size1,600 SF
Price / SF$221.88
Days on Market29
Property Features for 2700 02 S Galvez St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Building Details
Year Built
2023
Listing Agency:
Axen Realty, LLC
Listed By:
Kaisha Lymon
(504) 905-9799
Source:
Fiorellaavenue
Added: Aug 8
Changed: Sep 3
Last Checked: Sep 4 at 9:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Axen Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2023, this duplex includes two residences, each with two bedrooms and one and a half bathrooms. The layouts differ, with one side arranged on a single level and the other extending across two stories. Interior features include stainless steel appliances, vinyl flooring, quartz countertops, 10-foot ceilings, and clean finishes. A second-floor balcony adds exterior space to the two-story side.
The property is located at 2700 02 S Galvez St in New Orleans, with access to I-10 nearby. Starbucks is also minutes away, and Downtown New Orleans is within a short commute. The duplex configuration supports either an income-property strategy or owner occupancy, as stated in the property information.
The property is located at 2700 02 S Galvez St in New Orleans, with access to I-10 nearby. Starbucks is also minutes away, and Downtown New Orleans is within a short commute. The duplex configuration supports either an income-property strategy or owner occupancy, as stated in the property information.
Key Highlights
- Two‑unit duplex built in 2023
- Each residence includes 2 bedrooms and 1.5 bathrooms
- 1,600 property size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,260
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$405,200
$405.2K
Cap Rate 7%
$289,429
$289.4K
Cap Rate 9%
$225,111
$225.1K
Market Conditions
NOI Build-Up for 1,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.9K $18.09/SF
− OpEx
−$8.7K −$5.43/SF
NOI
$20.3K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$405,200
Cap Rate 7%
$289,429
Cap Rate 9%
$225,111
Alternative Uses
Best Use
Multifamily LT 5
$289.4K
$253.3K – $337.7K
NOI $20,260 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$266.0K
$232.8K – $310.4K
NOI $18,622 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$406.7K
$355.8K – $474.5K
NOI $28,467 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature stainless appliances, vinyl flooring, quartz countertops, and distinct one-story and two-story layouts.
Where is this duplex located?
The property is located at 2700 02 S Galvez St New Orleans, LA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2023; Each residence includes 2 bedrooms and 1.5 bathrooms; 1,600 property size
